BUZZ-Gold producers: Up as Brexit uncertainty continues

Tue Jul 5, 2016 11:27am EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

** U.S.-listed shares of gold producers up 1-3 pct in morning trading

** Gold slipped from its two-year high in June, though prices were supported by continued uncertainty following Britain's vote to exit the EU

** Harmony Gold Mining Co Ltd up 3 pct, Eldorado Gold Corp 1.7 pct, Yamana Gold Inc 1 pct, Sibanye Gold Ltd 1.8 pct, Kinross Gold Corp 1 pct, Gold Fields Ltd 1 pct

** Macquarie Research upgrades rating on South Africa-listed shares of Sibanye and Harmony to "neutral"

** Macquarie also raises PTs on South Africa-listed stocks of Sibanye, Harmony, AngloGold Ashanti and Gold Fields

** Macquarie says a lower rand and higher gold prices imply further upside for the gold miners

** HSBC says in a note, average forecast for gold for 2016, 2017 is $1,275/oz and $1,310/oz respectively

** "We expect gold prices to remain solid in the second half after a stellar rally," HSBC analysts write

** Spot Gold down 0.4 pct at $1345.08/ounce